For release at 4:30 p.m. EDT July 23, 2009 The Board’s H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks,” has been modified to reflect recent changes to the System Open Market Account (SOMA) securities lending program. Table 1A, “Memorandum Items,” now provides a breakdown of the amounts of U.S. Treasury securities and federal agency debt securities lent overnight to dealers. On July 7, 2009, the Federal Reserve announced that federal agency debt securities held in the SOMA portfolio would be offered for loan under the existing securities lending program. The securities lending program provides a temporary source of U.S. Treasury securities and now federal agency debt securities, to foster efficient and liquid trading in the market for these securities. Prior to July 9, 2009, only U.S. Treasury securities held in the SOMA portfolio were offered for loan under the securities lending program. When securities are lent, the Federal Reserve retains ownership of the securities, so the amount of securities held outright on tables 1, 9, and 10 includes the securities lent. FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks July 23, 2009 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks Jul 22, 2009 Jul 15, 2009 Jul 23, 2008 Jul 22, 2009 Reserve Bank credit 2,010,659 - 1,087 +1,126,759 2,023,907 Securities held outright (1) 1,325,951 + 60,244 + 846,862 1,340,871 U.S. Treasury securities 686,476 + 9,314 + 207,387 692,726 Bills (2) 18,423 0 - 3,317 18,423 Notes and bonds, nominal (2) 618,575 + 7,742 + 206,183 624,575 Notes and bonds, inflation-indexed (2) 44,223 + 1,400 + 5,052 44,438 Inflation compensation (3) 5,255 + 172 - 532 5,291 Federal agency debt securities (2) 102,121 + 2,633 + 102,121 102,680 Mortgage-backed securities (4) 537,354 + 48,297 + 537,354 545,466 Repurchase agreements (5) 0 0 - 104,786 0 Term auction credit 237,634 - 36,057 + 87,634 237,634 Other loans 110,640 - 1,253 + 94,130 109,137 Primary credit 33,748 - 709 + 17,367 33,445 Secondary credit 31 + 31 - 3 121 Seasonal credit 89 + 15 - 7 90 Primary dealer and other broker-dealer credit (6) 0 0 0 0 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility 3,560 - 4,438 + 3,560 2,227 Credit extended to American International Group, Inc. (7) 43,132 + 106 + 43,132 43,277 Term Asset-Backed Securities Loan Facility 30,080 + 3,742 + 30,080 29,978 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 110,501 - 1,859 + 110,501 109,846 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (9) 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (10) 25,989 + 31 - 3,036 26,056 Net portfolio holdings of Maiden Lane II LLC (11) 15,755 + 11 + 15,755 15,760 Net portfolio holdings of Maiden Lane III LLC (12) 18,817 + 33 + 18,817 18,837 Float -2,058 + 56 - 654 -2,049 Central bank liquidity swaps (13) 89,864 - 21,914 + 27,864 89,582 Other Federal Reserve assets (14) 77,565 - 379 + 33,671 78,232 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (15) 42,473 + 14 + 3,797 42,473 Total factors supplying reserve funds 2,066,373 - 1,073 +1,130,555 2,079,620 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 1. Factors Affecting Reserve Balances of Depository Institutions (continued) Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks Jul 22, 2009 Jul 15, 2009 Jul 23, 2008 Jul 22, 2009 Currency in circulation (15) 908,744 - 1,723 + 78,945 909,530 Reverse repurchase agreements (16) 67,805 - 955 + 25,195 66,833 Foreign official and international accounts 67,805 - 955 + 25,195 66,833 Dealers 0 0 0 0 Treasury cash holdings 347 - 1 + 69 337 Deposits with F.R. Banks, other than reserve balances 280,637 + 30,710 + 267,530 270,095 U.S. Treasury, general account 73,188 + 46,757 + 67,769 61,601 U.S. Treasury, supplementary financing account 199,936 - 3 + 199,936 199,936 Foreign official 1,736 - 1,225 + 1,635 1,884 Service-related 5,165 + 978 - 2,088 5,165 Required clearing balances 5,153 + 966 - 2,100 5,153 Adjustments to compensate for float 12 + 12 + 12 12 Other 612 - 15,797 + 277 1,509 Other liabilities and capital (17) 56,611 + 405 + 12,400 56,613 Total factors, other than reserve balances, absorbing reserve funds 1,314,145 + 28,438 + 384,140 1,303,409 Reserve balances with Federal Reserve Banks 752,228 - 29,511 + 746,416 776,212 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements. 6. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain other broker-dealers. 7. Excludes credit extended to consolidated LLCs. 8. Refer to table 7 and the note on consolidation accompanying table 10. 9. Refer to table 8 and the note on consolidation accompanying table 10. 10. Refer to table 4 and the note on consolidation accompanying table 10. 11. Refer to table 5 and the note on consolidation accompanying table 10. 12. Refer to table 6 and the note on consolidation accompanying table 10. 13. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 14. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 15. Estimated. 16. Cash value of agreements, which are collateralized by U.S. Treasury securities. 17. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 8 and the note on consolidation accompanying table 10. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Averages of daily figures Memorandum item Week ended Change from week ended Wednesday Jul 22, 2009 Jul 15, 2009 Jul 23, 2008 Jul 22, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,786,931 + 4,808 + 433,481 2,790,055 U.S. Treasury securities 1,995,795 + 14,007 + 623,371 1,997,994 Federal agency securities (2) 791,137 - 9,199 - 189,889 792,061 Securities lent to dealers 11,462 - 3,051 - 105,094 17,408 Overnight facility (3) 8,540 - 1,723 + 3,541 14,708 U.S. Treasury securities 8,355 - 1,754 + 3,356 14,587 Federal agency debt securities 185 + 31 + 185 121 Term facility (4) 2,921 - 1,329 - 108,636 2,700 Note: Components may not sum to totals because of rounding. 1. Face value of the securities. Includes U.S. Treasury STRIPS, other zero-coupon bonds, and mortgage-backed securities at face value. 2. Includes debt and mortgage-backed securities. 3. Fully collateralized by U.S. Treasury securities. 4. U.S. Treasury securities only. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt securities. 2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, July 22, 2009 Millions of dollars Remaining maturity Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All days 90 days 1 year to 5 years to 10 years years Term auction credit 86,337 151,298 --- --- --- --- 237,634 Other loans (1) 27,600 8,283 0 73,254 0 --- 109,137 U.S. Treasury securities (2) Holdings 15,018 23,891 63,994 277,376 183,943 128,504 692,726 Weekly changes + 377 + 233 + 328 + 134 + 7,690 - 66 + 8,696 Federal agency debt securities (3) Holdings 0 750 12,751 66,649 21,203 1,327 102,680 Weekly changes - 196 0 + 2,730 - 2,730 + 1,060 + 115 + 979 Mortgage-backed securities (4) Holdings 0 0 0 0 0 545,466 545,466 Weekly changes 0 0 0 0 0 + 19,048 + 19,048 Commercial paper held by Commercial Paper Funding Facility LLC (5) 81,508 24,501 0 --- --- --- 106,009 Money market instruments held by LLCs funded through the Money Market Investor Funding Facility (6) 0 0 0 --- --- --- 0 Repurchase agreements (7) 0 0 --- --- --- --- 0 Central bank liquidity swaps (8) 61,413 28,169 0 0 0 0 89,582 Reverse repurchase agreements (7) 66,833 0 --- --- --- --- 66,833 Note: Components may not sum to totals because of rounding. --- Not applicable. 1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles. 2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities. 3. Face value. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Face value of commercial paper held by Commercial Paper Funding Facility LLC. 6. Face value of money market instruments held by LLCs funded through the Money Market Investor Funding Facility. 7. Cash value of agreements. 8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 3. Supplemental Information on Mortgage-Backed Securities Purchase Program Millions of dollars Wednesday Account name Jul 22, 2009 Mortgage-backed securities held outright (1) 545,466 Commitments to buy mortgage-backed securities (2) 134,415 Commitments to sell mortgage-backed securities (2) 19,180 Cash and cash equivalents (3) 37 1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions as well as dollar rolls. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 9 and table 10. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Jul 22, 2009 Net portfolio holdings of Maiden Lane LLC (1) 26,056 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 28,820 Accrued interest payable to the Federal Reserve Bank of New York (2) 348 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,221 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of March 31, 2009. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 10. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 9 and table 10. Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY. 5. Information on Principal Accounts of Maiden Lane II LLC Millions of dollars Wednesday Account name Jul 22, 2009 Net portfolio holdings of Maiden Lane II LLC (1) 15,760 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 17,232 Accrued interest payable to the Federal Reserve Bank of New York (2) 173 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,022 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of March 31, 2009. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 10. 3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of American International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued interest payable are included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 9 and table 10. Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries. 6. Information on Principal Accounts of Maiden Lane III LLC Millions of dollars Wednesday Account name Jul 22, 2009 Net portfolio holdings of Maiden Lane III LLC (1) 18,837 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 20,757 Accrued interest payable to the Federal Reserve Bank of New York (2) 231 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,119 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of March 31, 2009. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 10. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 9 and table 10. Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG. 7. Information on Principal Accounts of Commercial Paper Funding Facility LLC Millions of dollars Wednesday Account name Jul 22, 2009 Commercial paper holdings, net (1) 105,848 Other investments, net 3,998 Net portfolio holdings of Commercial Paper Funding Facility LLC 109,846 Memorandum: Commercial paper holdings, face value 106,009 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 105,359 Accrued interest payable to the Federal Reserve Bank of New York (2) 54 1. Book value, which includes amortized cost and related fees. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 10. Note: On October 27, 2008, the Federal Reserve Bank of New York began extending loans under the authority of section 13(3) of the Federal Reserve Act to Commercial Paper Funding Facility LLC. This LLC is a limited liability company formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers and thereby foster liquidity in short-term funding markets and increase the availability of credit for businesses and households. 8. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility Millions of dollars Wednesday Account name Jul 22, 2009 Money market instrument holdings, net (1) 0 Other investments, net 0 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility 0 Memorandum: Money market instrument holdings, face value 0 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Commercial paper issued by LLCs funded through the Money Market Investor Funding Facility, net of related discounts 0 1. Book value, which includes amortized cost. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 10. Note: The Federal Reserve Board authorized the Federal Reserve Bank of New York to extend credit under the authority of section 13(3) of the Federal Reserve Act to a series of limited liability companies funded through the Money Market Investor Funding Facility (MMIFF). The MMIFF became operational on November 24, 2008. These limited liability companies were established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and outstanding asset-backed commercial paper from eligible issuers. Such purchases are designed to foster liquidity in short-term money markets. 9. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Jul 22, 2009 Jul 15, 2009 Jul 23, 2008 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,838 + 46 + 504 Securities, repurchase agreements, term auction credit, and other loans 1,687,643 - 11,484 + 936,943 Securities held outright (1) 1,340,871 + 28,721 + 861,750 U.S. Treasury securities 692,726 + 8,696 + 213,605 Bills (2) 18,423 0 - 3,317 Notes and bonds, nominal (2) 624,575 + 7,000 + 212,183 Notes and bonds, inflation-indexed (2) 44,438 + 1,499 + 5,267 Inflation compensation (3) 5,291 + 196 - 527 Federal agency debt securities (2) 102,680 + 979 + 102,680 Mortgage-backed securities (4) 545,466 + 19,048 + 545,466 Repurchase agreements (5) 0 0 - 103,750 Term auction credit 237,634 - 36,057 + 87,634 Other loans 109,137 - 4,149 + 91,307 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 109,846 - 1,207 + 109,846 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (7) 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 26,056 + 78 - 3,003 Net portfolio holdings of Maiden Lane II LLC (9) 15,760 + 6 + 15,760 Net portfolio holdings of Maiden Lane III LLC (10) 18,837 + 23 + 18,837 Items in process of collection (390) 438 - 18 - 993 Bank premises 2,211 + 10 + 53 Central bank liquidity swaps (11) 89,582 - 22,059 + 27,582 Other assets (12) 76,033 + 1,264 + 34,909 Total assets (390) 2,041,481 - 33,341 +1,140,437 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 9. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Jul 22, 2009 Jul 15, 2009 Jul 23, 2008 Liabilities Federal Reserve notes, net of F.R. Bank holdings 869,228 - 1,099 + 74,984 Reverse repurchase agreements (13) 66,833 + 491 + 24,684 Deposits (0) 1,046,319 - 32,871 +1,028,208 Depository institutions 781,389 - 27,435 + 770,421 U.S. Treasury, general account 61,601 - 3,633 + 54,881 U.S. Treasury, supplementary financing account 199,936 - 3 + 199,936 Foreign official 1,884 - 81 + 1,783 Other (0) 1,509 - 1,720 + 1,187 Deferred availability cash items (390) 2,487 - 399 - 464 Other liabilities and accrued dividends (14) 6,477 - 127 + 3,104 Total liabilities (390) 1,991,344 - 34,004 +1,130,516 Capital accounts Capital paid in 24,516 + 4 + 4,612 Surplus 21,289 + 8 + 2,795 Other capital accounts 4,331 + 650 + 2,513 Total capital 50,137 + 663 + 9,921 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 7 and the note on consolidation accompanying table 10. 7. Refer to table 8 and the note on consolidation accompanying table 10. 8. Refer to table 4 and the note on consolidation accompanying table 10. 9. Refer to table 5 and the note on consolidation accompanying table 10. 10. Refer to table 6 and the note on consolidation accompanying table 10. 11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities. 14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 8 and the note on consolidation accompanying table 10. 10. Statement of Condition of Each Federal Reserve Bank, July 22, 2009 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Assets Gold certificate account 11,037 412 3,895 450 467 882 1,356 911 329 197 335 621 1,182 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 1,838 61 73 154 148 241 224 223 40 59 130 190 294 Securities, repurchase agreements, term auction credit, and other loans 1,687,643 38,463 806,819 29,058 59,781 52,162 165,009 150,006 54,915 22,792 62,591 67,050 178,997 Securities held outright (1) 1,340,871 25,722 524,114 20,802 52,975 48,321 161,557 145,097 52,530 22,199 60,526 64,833 162,196 U.S. Treasury securities 692,726 13,289 270,769 10,747 27,368 24,964 83,464 74,960 27,138 11,468 31,269 33,494 83,794 Bills (2) 18,423 353 7,201 286 728 664 2,220 1,994 722 305 832 891 2,228 Notes and bonds (3) 674,303 12,935 263,568 10,461 26,640 24,300 81,244 72,967 26,417 11,163 30,437 32,604 81,566 Federal agency debt securities (2) 102,680 1,970 40,135 1,593 4,057 3,700 12,372 11,111 4,023 1,700 4,635 4,965 12,421 Mortgage-backed securities (4) 545,466 10,464 213,209 8,462 21,550 19,657 65,721 59,025 21,369 9,030 24,622 26,374 65,981 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 237,634 10,317 179,566 8,027 6,765 3,399 3,245 3,575 2,273 378 2,063 2,211 15,816 Other loans 109,137 2,424 103,139 229 41 441 207 1,334 112 215 3 6 986 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 109,846 0 109,846 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (7) 0 0 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 26,056 0 26,056 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (9) 15,760 0 15,760 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (10) 18,837 0 18,837 0 0 0 0 0 0 0 0 0 0 Items in process of collection 828 19 0 118 96 32 335 10 11 46 67 48 47 Bank premises 2,211 121 228 68 147 238 222 207 135 112 270 248 213 Central bank liquidity swaps (11) 89,582 3,659 22,551 10,032 6,726 25,915 6,984 3,048 909 1,406 901 1,174 6,278 Other assets (12) 76,033 2,020 26,489 3,612 3,859 9,123 8,005 6,263 2,246 1,251 2,537 2,790 7,838 Interdistrict settlement account 0 + 5,094 + 2,024 + 11,085 - 5,356 + 154,856 - 36,934 - 51,192 - 23,402 - 3,635 - 20,663 - 4,184 - 27,694 Total assets 2,041,871 49,963 1,033,452 54,659 65,972 243,597 145,368 109,688 35,255 22,257 46,234 68,036 167,390 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Statement of Condition of Each Federal Reserve Bank, July 22, 2009 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Liabilities Federal Reserve notes outstanding 1,056,027 35,841 382,052 39,817 45,150 82,592 132,398 86,345 31,054 19,816 28,782 62,358 109,820 Less: Notes held by F.R. Banks 186,799 4,784 57,297 6,828 8,404 12,796 28,002 13,459 4,344 3,174 3,528 18,455 25,728 Federal Reserve notes, net 869,228 31,057 324,754 32,990 36,747 69,796 104,396 72,887 26,710 16,643 25,254 43,903 84,092 Reverse repurchase agreements (13) 66,833 1,282 26,124 1,037 2,640 2,408 8,052 7,232 2,618 1,106 3,017 3,231 8,084 Deposits 1,046,319 15,549 663,925 14,949 22,709 157,358 28,879 27,169 5,095 2,881 17,132 19,791 70,881 Depository institutions 781,389 15,537 399,184 14,944 22,705 157,224 28,870 27,166 5,082 2,881 17,131 19,790 70,875 U.S. Treasury, general account 61,601 0 61,601 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 199,936 0 199,936 0 0 0 0 0 0 0 0 0 0 Foreign official 1,884 2 1,854 4 3 11 3 1 0 1 0 1 3 Other 1,509 10 1,351 1 1 123 7 2 13 0 1 0 2 Deferred availability cash items 2,877 73 0 393 344 97 250 285 113 292 189 280 562 Other liabilities and accrued dividends (14) 6,477 139 3,487 146 213 398 494 425 201 120 181 230 443 Total liabilities 1,991,734 48,098 1,018,291 49,514 62,653 230,057 142,071 107,998 34,737 21,043 45,772 67,436 164,063 Capital Capital paid in 24,516 921 7,247 2,607 1,635 6,809 1,559 791 238 621 208 274 1,607 Surplus 21,289 844 5,819 2,316 1,552 5,981 1,612 704 209 324 208 271 1,449 Other capital 4,331 100 2,095 222 132 749 126 195 70 269 46 55 271 Total liabilities and capital 2,041,871 49,963 1,033,452 54,659 65,972 243,597 145,368 109,688 35,255 22,257 46,234 68,036 167,390 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Statement of Condition of Each Federal Reserve Bank, July 22, 2009 (continued) 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 2. Face value of the securities. 3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 7 and the note on consolidation below. 7. Refer to table 8 and the note on consolidation below. 8. Refer to table 4 and the note on consolidation below. 9. Refer to table 5 and the note on consolidation below. 10. Refer to table 6 and the note on consolidation below. 11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities. 14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 8 and the note on consolidation below. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On October 27, 2008, the FRBNY began extending loans to Commercial Paper Funding Facility LLC, which was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On October 21, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to a series of LLCs funded through the Money Market Investor Funding Facility. These LLCs, which became operational on November 24, 2008, were established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and commercial paper from eligible issuers. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. The FRBNY is the sole beneficiary of Commercial Paper Funding Facility LLC and the primary beneficiary of the other LLCs cited above. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 9), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 9). 11. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday Jul 22, 2009 Federal Reserve notes outstanding 1,056,027 Less: Notes held by F.R. Banks not subject to collateralization 186,799 Federal Reserve notes to be collateralized 869,228 Collateral held against Federal Reserve notes 869,228 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 855,991 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 1,340,871 Less: Face value of securities under reverse repurchase agreements 66,962 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 1,273,909 Note: Components may not sum to totals because of rounding. 1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright, compensation to adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements. 2. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A.